Carmignac Gestion boosted its stake in shares of IntercontinentalExchange Group Inc. (NYSE:ICE) by 12.0% during the second quarter, Holdings Channel reports. The institutional investor owned 2,633,120 shares of the company’s stock after buying an additional 282,595 shares during the period. IntercontinentalExchange Group accounts for 5.8% of Carmignac Gestion’s investment portfolio, making the stock its 5th largest position. Carmignac Gestion’s holdings in IntercontinentalExchange Group were worth $673,973,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in IntercontinentalExchange Group by 0.9% in the first quarter. State Street Corp now owns 4,607,392 shares of the company’s stock worth $1,083,386,000 after buying an additional 39,878 shares in the last quarter. Wellington Management Group LLP boosted its position in IntercontinentalExchange Group by 12.6% in the first quarter. Wellington Management Group LLP now owns 2,864,823 shares of the company’s stock worth $673,634,000 after buying an additional 319,612 shares during the last quarter. JPMorgan Chase & Co. boosted its position in IntercontinentalExchange Group by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 2,814,315 shares of the company’s stock worth $661,758,000 after buying an additional 384,685 shares during the last quarter. American Century Companies Inc. boosted its position in IntercontinentalExchange Group by 26.8% in the second quarter. American Century Companies Inc. now owns 1,105,774 shares of the company’s stock worth $283,034,000 after buying an additional 233,988 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in IntercontinentalExchange Group by 5.7% in the first quarter. BlackRock Group LTD now owns 1,051,017 shares of the company’s stock worth $247,136,000 after buying an additional 56,315 shares during the last quarter. 90.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IntercontinentalExchange Group Inc. (NYSE:ICE) traded down 0.94% during midday trading on Thursday, hitting $268.40. The company had a trading volume of 590,606 shares. The company’s 50-day moving average price is $279.97 and its 200 day moving average price is $259.97. The company has a market capitalization of $30.88 billion, a price-to-earnings ratio of 22.14 and a beta of 0.84. IntercontinentalExchange Group Inc. has a 12-month low of $224.64 and a 12-month high of $287.02.
IntercontinentalExchange Group (NYSE:ICE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $3.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.38 by $0.05. The firm earned $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. IntercontinentalExchange Group had a net margin of 25.83% and a return on equity of 10.72%. The company’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter last year, the business posted $2.90 EPS. Equities research analysts predict that IntercontinentalExchange Group Inc. will post $13.83 earnings per share for the current fiscal year.
ICE has been the subject of a number of research analyst reports. Deutsche Bank AG lifted their price target on IntercontinentalExchange Group from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Zacks Investment Research upgraded IntercontinentalExchange Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. JPMorgan Chase & Co. upgraded IntercontinentalExchange Group from a “not rated” rating to a “neutral” rating and set a $284.00 price target for the company in a report on Wednesday, June 1st. Keefe, Bruyette & Woods lifted their price target on IntercontinentalExchange Group from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Finally, Barclays PLC lifted their price target on IntercontinentalExchange Group from $295.00 to $307.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $296.18.
In other news, CFO Scott A. Hill sold 9,117 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $280.00, for a total transaction of $2,552,760.00. Following the completion of the sale, the chief financial officer now owns 38,809 shares in the company, valued at approximately $10,866,520. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas W. Farley sold 755 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $253.18, for a total transaction of $191,150.90. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
About IntercontinentalExchange Group
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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